Motion AB: Point B is the most important level of the impeller pattern, which should be at 78.6% of the XA wave.
BC movement: BC movement should continue until the Fibonacci retracement of 38.2% or 88.6% of the AB wave.
CD Motion: If BC is 38.2% of the AB wave, the CD wave is likely to reach 161.8% of the BC wave. But if BC is as much as 88.6% of the AB wave, CD motion is likely to continue up to 261.8% of the BC wave.
AD Motion: Finally, the total AD motion, which includes BC, AB and CD waves, should be at the level of 127% or 161.8% of the XA wave.
BC movement: BC movement should continue until the Fibonacci retracement of 38.2% or 88.6% of the AB wave.
CD Motion: If BC is 38.2% of the AB wave, the CD wave is likely to reach 161.8% of the BC wave. But if BC is as much as 88.6% of the AB wave, CD motion is likely to continue up to 261.8% of the BC wave.
AD Motion: Finally, the total AD motion, which includes BC, AB and CD waves, should be at the level of 127% or 161.8% of the XA wave.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.